Obidos Golf

Azora expands its golf portfolio with the acquisition of Praia d’El Rey and West Cliffs

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Azora, a Madrid-based European real estate investment manager, has significantly enhanced its presence in the Portuguese market by acquiring the prestigious Praia d’El Rey Resort in Óbidos, Portugal. This acquisition, executed through the Azora European Hotel and Lodging Fund (AEHL), includes the luxurious Marriott Praia d’El Rey hotel, two top-ranked golf courses—Praia del Rey and West Cliffs—and the management of 90 apartments and two food and beverage outlets.

The Marriott Praia d’El Rey, a 177-room, 5-star hotel, is a jewel in our crown. It will continue operating under the Marriott brand, managed by Blue & Green. The hotel, with its stunning backdrop of the Atlantic Ocean, direct beach access, and surrounding golf courses, offers a unique and luxurious experience. It boasts premium amenities, including four dining options, a renovated spa and wellness area, indoor and outdoor pools, a kids club, and extensive meeting and event facilities. The golf courses, recognized among Portugal’s top ten and recipients of the 2023 Golfer’s Choice Award from Leading Courses, are key highlights of the resort.

Azora leadership position

This acquisition is a testament to Azora’s strategic growth in Portugal. It expands our portfolio to include seven hotels and two golf courses with 36 holes. The Praia d’El Rey Resort, with its exceptional facilities and prime location, strengthens Azora’s position as a leader in the leisure and golf destination sector in Europe and underscores our commitment to delivering exceptional experiences to our guests.

Azora’s portfolio now encompasses over 12,000 keys under management, cementing its status as a significant player in the European hospitality and leisure investment sector. Since its inception, Azora has invested over €3 billion in the hospitality industry, acquiring over 100 hotels and 26,000 hotel keys. The company’s strategy focuses on high-quality hotels and urban hostels, targeting assets that require active management and repositioning.

Launched in 2021 with €815 million in capital, AEHL has focused on the vacation hotel segment in major European destinations. The fund employs a value-add strategy, emphasizing asset transformation and active management of hotel operations. Recently, AEHL has also adopted an alternative hotel strategy for urban tourism, targeting a diverse range of travellers and aiming to revolutionize city tourism.

Concha Osácar, one of Azora’s founding partners, expressed confidence in the hospitality sector across the Mediterranean and Southern Europe. She emphasized that the acquisition of Praia d’El Rey Resort marks a significant milestone for AEHL, underscoring Azora’s commitment to high-potential markets and its belief in Portugal’s growing appeal to both European and American tourists.

For over 30 years, Tee Times Golf Agency has offered the best packages for those seeking Portugal golf holidays. With extensive industry experience, we provide unparalleled access to top courses, including the newly acquired by Azora, Praia del Rey and West Cliffs golf courses, ensuring a memorable and high-quality golfing experience.

Portugal Golf – International Pairs Golf Final returns to Portugal

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International Pairs Golf Óbidos 2023. Portugal hosts another International Pairs Golf final.

International Pairs Golf Final returns to Portugal for the 4th time in 7 years

The International Pairs Golf World Final 2023 will be held at Royal Óbidos and Bom Sucesso, in the Lisbon region, from 6 to 10 November.

Armandt Scholtz, managing director of International Pairs Golf, says that Portugal “has always been a great place for the event, with its beautiful golf courses, friendly people, and lively culture”, and that “the International Pairs tournament has had the privilege of hosting previous finals in the Algarve from 2017-2019″.

For a number of reasons, Portugal stood out as an outstanding choice for the event’s final. To begin, Portugal has become a well-known golf destination that draws golf fans worldwide. The country has a huge number of excellent golf courses with a wide range of landscapes and difficult layouts that appeal to both amateur and professional players.

According to Armandt Scholtz: “There are many economic, cultural, and publicity benefits for Portugal that come from hosting the International Pairs World Final: the event brings a lot of people to the area, which creates jobs, brings in more tax money, and helps the business grow in general. It makes the country more well-known in the world of golf and has a good effect on tourism, local businesses, and community involvement”.

The managing director of the competition also says that the tournament brings business opportunities in the hospitality, food and beverage, retail, transport, tourism, sponsorship, advertising and event services sectors.

Scholtz affirms that golf is very important to tourism and could have a big effect on the industry. Over the holidays, golfers tend to stay longer so they have time to try out new courses while they move around the country.

Another interesting statistic is that golf generally attracts “high value” tourists who have a higher disposable income and are willing to spend a little more during their golf holiday. This plays an important role in the overall growth of the economy of a region.

Check out Tee Times Golf Agency in order to play on the best golf courses in Portugal with outstanding green fees and you’ll find the best deals for your next golf holidays.

You can also read other posts about Golf in Portugal:
Marco Penge wins Open de Portugal 2023
Open de Portugal 2023 guide
2023 Absolute National Championship of Portugal

Portugal Golf – Marco Penge wins Open de Portugal 2023

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Marco Penge wins Open de Portugal 2023. Open de Portugal 2023 is won by Marco Penge.

Open de Portugal ended with a victory for Marco Penge

The 25-year-old Marco Penge won the 61st Open de Portugal at Royal Óbidos, Lisbon region, completing an eventful year that included his marriage, qualifying for the British Open, winning his first Challenge Tour title, and moving to 19th in the Race to Mallorca.

He won the Portuguese Open with 272 strokes, 16 strokes under par at Royal Óbidos, after rounds of 65, 68, 69, and 70, where he ranked second in the first 3 rounds. He was the 17th Englishman to win the tournament, but the first since Matt Wallace in 2017.

Over 250,000 euros was up for grabs as a prize, and Penge won 40,000 euros. The two runners-up each got 22,500 euros.

With 287 (-1), Ricardo Santos and Tomás Bessa were the best Portuguese players in the event. They were both ranked 47th. They each got a thousand euros. Bessa scored 63, 76, 76, and 72, while Santos scored 73, 69, 70, and 75.

“This was my second victory as a professional, but the first was in the third division, in England. Winning on the Challenge Tour is obviously my greatest achievement. It’s incredible. I don’t even know what to say, I haven’t even realized it yet”, said Marco Penge. “I have jumped from 84th to 19th in the rankings in the last five weeks. In golf, we are only one week away from turning an average year into a good year”.

Now, Penge is a rival to the Portuguese Ricardo Melo Gouveia, in the fight for the top 20 of the Race to Mallorca.

Book your golf holidays in the Lisbon region with Tee Times Golf Agency and play on some of the best Portuguese golf courses.

You can also read other posts about Golf in Portugal:
Open de Portugal 2023 guide
2023 Absolute National Championship of Portugal
Castro Marim golf course irrigated with recycled water